Britain’s Largest Oil Pipeline Shut ‘for Weeks’ For Repairs
LONDON (Reuters) – Britain’s largest oil pipeline may shut down for weeks for unscheduled repair work, sending the worth of crude to new two-12 months highs and triggering a steep rally in natural gasoline prices, simply as a chilly snap sweeps the country.
The Forties Pipeline System, which carries round 450,000 barrels per day of Forties crude from the North Sea to the Kinneil processing terminal in Scotland, had been working at lowered capacity since December 7 when a routine inspection revealed a small leak.
Ineos, a privately owned Anglo-Swiss chemicals firm, owns the pipeline and stated petroleum equipment vietnam online it had taken the decision to close the system completely.
Oil traders estimated this was the first complete closure since 2011, when then-operator BP (BP.L) shut it down while a suspected World Struggle II bomb was faraway from the seabed.
“It’s early days and it is premature to offer a time frame for the repair work. petrochemical Companies We will not give a exact estimate other than to say it’s a matter of weeks, moderately than days,” an Ineos spokesman mentioned.
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